Sports betting firm Sportpesa has closed shop in Kenya citing hostile regulation such as the 20 per cent excise on all betting stakes.
The move comes just days after assuring Kenyans of return to full operations following a long taxation battle with the government.
Sportpesa closures follow Betin’s, among top betting firms, exit n Friday as it declared the staff redundant.
In July, the Kenyan government suspended licenses of all betting agencies until they submitted proof of tax compliance.
Sportpesa criticizes the government of over-regulation saying that it threatens to deny the government tax revenue. Furthermore, the firm claims that there will be severe consequences for betting companies, which dutifully pay their taxes thus halting investment in sports in Kenya.
The betting firms cleared by Kenya Revenue Authority (KRA) for licensing by Betting and Licensing Control Board include; Betway, Odibets, Mozzartbet, ken Bookmakers, Lucky 2u, Eazi Bet, Kick-Off, Eastleighbet, Palms Bet, and Bet Boss.
However, not all is lost as Sportpesa promises to be back at a time when Kenya returns adequate taxation and non-hostile regulatory environment.